Calypso Technology, a global application software provider of an integrated trading and risk management application suite to the capital markets industry, announced today that Standard Bank International, a leading emerging markets bank with operations throughout the world, has gone live with the Calypso system for cash management.
In addition, the bank has already started expanding usage of the Calypso platform by adding securities processing capabilities.
Standard Bank International has adopted the Calypso platform as a centralized solution for the firm's London cash management business. The Calypso cash management solution manages the bank's cash flow projections in real-time and users are able to monitor and explain balance composition. Peter Hosier, Head of Operations, International at Standard Bank, comments, "With the Calypso system, we have been able to implement a number of control levels to reduce operational risk and address our compliance needs in a more effective manner. At any given point in time, a senior manager is able to view the bank's cash positions on a consolidated level."
Standard Bank International is looking to further consolidate its back-office operations by adding securities processing to the Calypso platform. By reducing the number of systems and interfaces being used, the firm will benefit from significant cost savings as multiple asset classes are supported by the Calypso system. The centralized approach improves operational efficiency and reduces operational risk as processing is focused on managing exceptions according to a pre-defined set of controls.
Hosier adds, "The Calypso solution is a perfect match for Standard Bank International's ambition to bring innovative products to the market which has always been our competitive edge. As an example, we have worked with Calypso on a greenfield development to provide key functionality for TRAX2 reporting and matching as well as Tri-Party Repos."
Charles Marston, CEO of Calypso Technology, says, "Standard Bank International is another example of a client where our relationship has evolved over time to cover multiple products and business areas, all supported on the Calypso platform as the foundation for the firm's infrastructure. Our successful partnership with Standard Bank International is rooted in our ability to support the bank's ambition to enter new emerging markets while adopting advanced technology. We are committed to working closely with clients to deliver innovative solutions."